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Vivendi to receive $5.8bn for NBCU stake

December 1, 2009 09.18 Europe/London By Julian Clover

Immelt

Immelt

Vivendi has agreed to place a value of $5.8 billion (€3.53 billion) on its holding in NBC Universal, according to sources widely quoted in the financial press, a move that gives the go-ahead for Comcast’s joint venture with General Electric.

Talks between the two parties have been in progress for several weeks, culminating in a meeting in Paris last week between GE Chief Executive Jeffrey Immelt and Vivendi CEO Jean-Bernard Levy.

Vivendi had previously valued its stake at $6.1 billion, the two sides coming together during the course of the negotiations.

In addition to the NBC Networks in the US, the sale also includes the Universal Networks portfolio that includes Universal Channel, 13th Street Universal, Syfy Universal (the former Sci Fi), Diva Universal and Studio Universal.

An official announcement is expected over the next few days.

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Filed Under: Finance, Newsline Tagged With: Comcast, NBC Universal, Vivendi Edited: 1 December 2009 09:45

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About Julian Clover

Julian Clover is a Media and Technology journalist based in Cambridge, UK. He works in online and printed media. Julian is also a voice on local radio. You can talk to Julian on Twitter @julianclover, on Facebook or by email at jclover@broadbandtvnews.com.

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